Property Overview: 624 Renfrew Street, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home on Renfrew Street in the J.B. Mitchell neighbourhood presents a compelling opportunity. Built in 1956, its key strength lies in its generous 7,578 sqft lot, which is significantly larger than most in the immediate area and across Winnipeg, offering ample outdoor space and potential. The 1,290 sqft living area is comfortably above average for both the street and neighbourhood, providing good interior space. A renovated basement and a detached garage add to its functional appeal.
The property’s assessed value consistently ranks in the top tiers for its locale, suggesting it is viewed as a solid asset within its market. Its appeal is grounded in space and established value rather than modern luxury. It would suit a buyer looking for a character home with a sizable yard for gardening, family play, or future expansion. It’s also a sensible fit for those who value a neighbourhood with mature homes and prefer a property that already stands above average in its peer group for lot size and living space, offering a clear step up without a premium city-wide price.
Frequently Asked Questions
1. How does the property’s value compare to recent sales?
Based on available data, a very similar home two doors down at 656 Renfrew Street sold in 2019 for between $337,500 and $405,000. The assessed value of 624 Renfrew Street is notably higher, which should be considered in the context of market changes and property-specific conditions.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, permits, and the nature of the renovation to understand if it’s cosmetic or includes major updates to electrical, plumbing, or moisture management.
3. Is the large lot a benefit for future expansion?
The lot size is a standout feature and does offer potential. However, any expansion or addition would be subject to local zoning bylaws, setback requirements, and the home’s existing footprint. It’s a valuable asset for outdoor living or future development, pending due diligence.
4. How does the age of the home (1956) factor in?
The home is slightly newer than the average on its street and in J.B. Mitchell. While this is a positive relative point, a home of this age will likely have systems (roof, windows, heating) that are at or beyond their typical lifespan. A thorough inspection is essential.
5. Why is the assessed value so high compared to city-wide averages?
The assessed value rankings show the home is a top-tier property within its specific neighbourhood and street, not necessarily city-wide. This indicates it is a higher-value home for the J.B. Mitchell area, likely due to its larger lot and above-average living space for that locale.